Mati Greenspan, senior market analyst for eToro, said low trading in Korea and Japan may have contributed to the price movement.

China, Brazil and India have all cracked down on cryptocurrency trading as a result of the soaring values seen last month.

In the United Kingdom, an inquiry into cryptocurrencies could be launched by MPs because of concerns over investor losses. "So this dip is not wholly unexpected".

Around 5:00 on Wednesday, the price of bitcoin has fallen to 9,730.42 dollars for a bitcoin, its lowest level since December 1 and a fall of almost 50% since its historic peak of December 18, according to figures compiled by the Bloomberg financial data provider. CBOE's January 2018 contracts were at $11,760 down 12 percent for the session. It was trading at over $1,300 just a few days ago. He said also that uncertainty might be spooking the market as regulations are not clear as yet. On seeing this, the crypto coins investors have chose to sell the coins and there comes fall in the crypto market.

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